Radius Recycling (NASDAQ:RDUS) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research note released on Monday morning.

Radius Recycling Stock Performance

Shares of RDUS opened at $16.19 on Monday. The stock has a market capitalization of $453.95 million, a P/E ratio of -1.73 and a beta of 1.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70. The company’s fifty day moving average is $16.79 and its two-hundred day moving average is $16.65.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The firm had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Radius Recycling will post -1.02 earnings per share for the current year.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.75 annualized dividend and a dividend yield of 4.63%. Radius Recycling’s payout ratio is currently -8.01%.

Insider Activity at Radius Recycling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Radius Recycling by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock valued at $55,423,000 after purchasing an additional 23,199 shares in the last quarter. American Century Companies Inc. increased its position in Radius Recycling by 2.9% during the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock worth $8,623,000 after buying an additional 16,162 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Radius Recycling by 4.7% in the second quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock worth $5,267,000 after acquiring an additional 15,644 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Radius Recycling in the first quarter valued at $4,667,000. Finally, Nordea Investment Management AB acquired a new stake in shares of Radius Recycling during the first quarter valued at $3,959,000. 78.11% of the stock is owned by institutional investors and hedge funds.

About Radius Recycling

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.